Mizuho Securities USA LLC Sells 10,847 Shares of Coterra Energy Inc. (NYSE:CTRA)

Key Points

• Mizuho Securities USA LLC reduced its stake in Coterra Energy by 15.5%, selling 10,847 shares, bringing their total holdings to 58,967 shares valued at approximately $1.7 million.
• Multiple institutional investors have increased their positions in Coterra Energy, with Vanguard Group Inc. acquiring an additional 3.8 million shares, raising its stake by 4.3%.
• Coterra Energy recently posted quarterly earnings of $0.48 per share, missing analysts' expectations and reporting a significant year-over-year revenue increase of 54.6% to $1.97 billion.

Mizuho Securities USA LLC lowered its holdings in Coterra Energy Inc. (NYSE:CTRA - Free Report) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,967 shares of the company's stock after selling 10,847 shares during the quarter. Mizuho Securities USA LLC's holdings in Coterra Energy were worth $1,704,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Martingale Asset Management L P bought a new stake in Coterra Energy during the fourth quarter worth about $249,000. Bessemer Group Inc. grew its stake in Coterra Energy by 8.7% during the fourth quarter. Bessemer Group Inc. now owns 57,967 shares of the company's stock worth $1,481,000 after buying an additional 4,617 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $283,000. Rockefeller Capital Management L.P. grew its stake in shares of Coterra Energy by 10.9% during the fourth quarter. Rockefeller Capital Management L.P. now owns 161,198 shares of the company's stock valued at $4,117,000 after purchasing an additional 15,865 shares during the last quarter. Finally, Townsquare Capital LLC grew its stake in shares of Coterra Energy by 16.2% during the fourth quarter. Townsquare Capital LLC now owns 66,506 shares of the company's stock valued at $1,699,000 after purchasing an additional 9,260 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Coterra Energy Trading Down 0.6%

CTRA traded down $0.14 during mid-day trading on Thursday, hitting $24.09. The stock had a trading volume of 8,543,958 shares, compared to its average volume of 7,115,019. The stock's fifty day simple moving average is $25.01 and its 200-day simple moving average is $25.92. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08. The firm has a market capitalization of $18.38 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 0.32 and a beta of 0.33. Coterra Energy Inc. has a 1-year low of $22.30 and a 1-year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the company earned $0.37 EPS. The firm's revenue was up 54.6% on a year-over-year basis. As a group, research analysts forecast that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. Coterra Energy's dividend payout ratio is currently 42.11%.

Analyst Ratings Changes

Several research firms have recently commented on CTRA. Pickering Energy Partners cut shares of Coterra Energy from an "outperform" rating to a "neutral" rating in a research note on Tuesday, May 20th. Susquehanna decreased their price target on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a research note on Tuesday, April 22nd. Piper Sandler reissued an "overweight" rating and set a $39.00 price target (up from $37.00) on shares of Coterra Energy in a research note on Thursday. Raymond James Financial set a $38.00 price target on shares of Coterra Energy and gave the company an "outperform" rating in a research note on Friday, June 13th. Finally, Bank of America decreased their price target on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $33.37.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.